John MacIlwaine, a former Visa executive, has been named the chief technology officer at the peer-to-peer loan facilitator Lending Club Corp.
MacIlwaine most recently served as chief information officer at prepaid company Green Dot. His departure, along with the company's chief technology officer, Michael Strange, was confirmed last week. Green Dot's stock tumbled on Friday after the company announced Thursday evening that it was lowering its profit forecast for the rest of the year in light of increasing competition from retailers.
Lending Club facilitates personal loans for consumers with strong credit by connecting borrowers directly with investors on its website.
"Having worked in both the consumer finance and retail brokerage spaces, I have a deep appreciation for the technology platform that Lending Club has built," MacIlwaine said in a press release Tuesday.
"Lending Club is positioned directly at the convergence of technology and financial services, which fits perfectly with my expertise and passion. I'm pleased to join the team at a very exciting point in Lending Club's growth and look forward to helping drive the continued scaling of Lending Club's technology infrastructure," he added.